Thanks Katherine. You're very kind and gracious for giving free, good advice on this matter. Most people would charge for this. Keep up the good work and God bless.
Paid for financial advice where I was told to sell my property and rent in retirement! It’s not like I don’t have a reasonable Super account or savings to fall back on. Needless to say I’m never paying for financial “advice” again!
I'm 87 and have been 'retired' for 28 years. Seven months ago I started placing videos on UA-cam about the 'psychological aspects' of being retired. The videos are proving popular. My my recent, collected well over 1,700 views, 144 likes, 39 comments and 100% approval in less than 48 hours. I've also picked up 1,092 subscribers. And I have getting up towards 90,000 views on all the videos I placed - most of which have come from Retirees. There is, indeed, a huge demand from those 673,000 expected retirees you quoted on what life is likely to be like for them in their so-called, 'Autumn Years.'
What are the priorities for retirees? What has the greatest negative impact on our lives? Low interest rates? Low rate of returns? Poor health? power bills, rates and taxes? (Vertically integrated retirement villages would solve a few problems, (TAFE colleges could give real world experience) free up housing for the young, get the elderly set up for the rest of their life in a known environment) What would have the best return on investment for the government money. Wish I knew. Setting up part time work? Too many variables. Assuming we won't live past 85yo when the stats are pushing 10 years higher. It would be good if the government pitched in the extra to maintain retirement income after forcing retirees to take more in retirement assuming an early mortality. Imagine 14% of final income as an annuity. Not going to happen.
Hi Catherine, I'm Ray, married to an Australian for 18 years, and we live in the Philippines after he retired early in 2015 at the age of 60 after 43 years of working as a Registered Nurse, he travel to back Australia in 2021 to fix his government pension, after 3 months he fly back to Philippines without knowing the new law that was changed in 2014 that you cant bring out of the country your government pension. As soon as he arrived in Philippines airport he received an email stating that his pension was suspended because his out of Australia. Since then he got depressed again, and we spend 800 dollars per month for his permanent medication. We are looking for help because most of the time we cant afford to get his medicine. He is 69 years old now and not doin well thinking so much about what happen to his pension. We hope someone can help us. We even think to right to Australian Embassy. Thank you for reading and commenting.
Honestly, the sooner the better, especially if one wants to learn as you go, or want the best financial set up from the start plus correct strategy update/changes as life changes. But most certainly I would strongly recommend seeing a financial planner when major life events happen such as: birth of children, death in the family, inheritance, job promotions (high income), retirement etc.
Thank you for your very informative videos!! My husband (65) and I (62) have been living in Greece for the past 33 years and we are planning to return to Australia next year. Will we be eligable for a pension when we reach the age?
@@aussietaipan8700 There would be enough pensioner payments for all retirees if the Government, in particular the one we have now, that bring in tonnes of migrants and put many on the welfare gravy train plus housing during a housing crisis. The Government debt to GDP is currently only around 23% so it's not like we're struggling especially when our top Pollies are spending like drunken sailors. eg: referendums that cost over 400 million dollars.
Do you talk about trust funds and how they work by letting your money hold by the family and continue getting a full pension no. How about who has no trust in their family so decide to invest and be honest about it but end up losing a quarter of their pension. Can you explain why the Australian government wants to treat investors this way. And at the same time they give millions of dollars to aborigines without questioning what happens with this money.
Thanks Katherine. You're very kind and gracious for giving free, good advice on this matter. Most people would charge for this. Keep up the good work and God bless.
I agree, too many people focus on the cost of advice instead of the enormous benefits and peace of mind of that advice.
Thank you, I am so very happy to hear this.
Paid for financial advice where I was told to sell my property and rent in retirement! It’s not like I don’t have a reasonable Super account or savings to fall back on. Needless to say I’m never paying for financial “advice” again!
I'm 87 and have been 'retired' for 28 years. Seven months ago I started placing videos on UA-cam about the 'psychological aspects' of being retired. The videos are proving popular. My my recent, collected well over 1,700 views, 144 likes, 39 comments and 100% approval in less than 48 hours. I've also picked up 1,092 subscribers. And I have getting up towards 90,000 views on all the videos I placed - most of which have come from Retirees.
There is, indeed, a huge demand from those 673,000 expected retirees you quoted on what life is likely to be like for them in their so-called, 'Autumn Years.'
What are the priorities for retirees? What has the greatest negative impact on our lives? Low interest rates? Low rate of returns? Poor health? power bills, rates and taxes? (Vertically integrated retirement villages would solve a few problems, (TAFE colleges could give real world experience) free up housing for the young, get the elderly set up for the rest of their life in a known environment) What would have the best return on investment for the government money. Wish I knew. Setting up part time work? Too many variables. Assuming we won't live past 85yo when the stats are pushing 10 years higher. It would be good if the government pitched in the extra to maintain retirement income after forcing retirees to take more in retirement assuming an early mortality. Imagine 14% of final income as an annuity. Not going to happen.
Thanks Katherine for another useful video, much appreciated.
Thanks Sala 😀
Well done. Thanks
Hi Catherine, I'm Ray, married to an Australian for 18 years, and we live in the Philippines after he retired early in 2015 at the age of 60 after 43 years of working as a Registered Nurse, he travel to back Australia in 2021 to fix his government pension, after 3 months he fly back to Philippines without knowing the new law that was changed in 2014 that you cant bring out of the country your government pension. As soon as he arrived in Philippines airport he received an email stating that his pension was suspended because his out of Australia. Since then he got depressed again, and we spend 800 dollars per month for his permanent medication. We are looking for help because most of the time we cant afford to get his medicine. He is 69 years old now and not doin well thinking so much about what happen to his pension. We hope someone can help us. We even think to right to Australian Embassy. Thank you for reading and commenting.
Do you think that there will be an aged pension in 10 years - if you own a property?
At what age should you see a financial advisor ?
Honestly, the sooner the better, especially if one wants to learn as you go, or want the best financial set up from the start plus correct strategy update/changes as life changes. But most certainly I would strongly recommend seeing a financial planner when major life events happen such as: birth of children, death in the family, inheritance, job promotions (high income), retirement etc.
Thank you for your very informative videos!!
My husband (65) and I (62) have been living in Greece for the past 33 years and we are planning to return to Australia next year. Will we be eligable for a pension when we reach the age?
No. It's 67 years old as of 2023
Do you feel Australia is a good country to retire?
I'm not sure when comparing to other countries. But one thing is for sure that future Australian governments will make retiring harder and harder.
@@aussietaipan8700 well, it will make access to super hard and harder that is for certain
@@aussietaipan8700 There would be enough pensioner payments for all retirees if the Government, in particular the one we have now, that bring in tonnes of migrants and put many on the welfare gravy train plus housing during a housing crisis. The Government debt to GDP is currently only around 23% so it's not like we're struggling especially when our top Pollies are spending like drunken sailors. eg: referendums that cost over 400 million dollars.
Do you talk about trust funds and how they work by letting your money hold by the family and continue getting a full pension no. How about who has no trust in their family so decide to invest and be honest about it but end up losing a quarter of their pension. Can you explain why the Australian government wants to treat investors this way. And at the same time they give millions of dollars to aborigines without questioning what happens with this money.